Sika: Update on MBCC acquisition
The UK Competition and Markets Authority (CMA) has decided to conduct an in-depth examination in the UK market related to Sika’s planned acquisition of MBCC Group.
In November 2021, Sika signed a definitive agreement to acquire MBCC Group (former BASF Construction Chemicals). The completion of the transaction is subject to regulatory approvals. The UK Competition and Markets Authority (CMA) has decided to conduct an in-depth examination (Phase 2) regarding Sika’s planned acquisition of MBCC Group. This examination will require additional time. The closing of the transaction is therefore now targeted for the first half of 2023 instead of at the end of 2022 as previously announced.
“Not unusual”
Thomas Hasler, Chief Executive Officer: “Sika has already received unconditional regulatory approval across a number of jurisdictions, including Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, and Thailand. For a transaction of this magnitude a detailed analysis is not unusual. The adapted timeline for the closing does not impact the strategic attractiveness of the transaction.”
